China's stock markets continued to lose value as soon as trade opened on Wednesday. A series of incentives and the filing of charges against market manipulators has failed to calm investors who are still  selling their Chinese shares in droves.

The BBC reported that shares in the Shanghai stock market lost another 8 percent after the market opened on Wednesday. The total loss has now reached 30 percent compared to its previous value last month.

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On the same day, around 500 Chinese firms listed in the stock market announced that they will refrain from selling their own shares to stop their value from sliding further. The total number of listed companies who have abstained from trading activities is now estimated to reach at least 1,300. They represent nearly 50 percent of the Chinese primary shares in the market.

The Financial Times reported that many tech firms who are listed in the ChiNext index have already stopped selling their own shares. Stocks of these tech firms were the most sought after shares in the early parts of 2015 and their values skyrocketed. Lately, the value of these shares have fallen considerably.

Securities regulators have already conceded to the fact that many players in China's stock market are in a selling mood.  Deng Ge, the spokesperson for the China Securities Regulatory Commission, has admitted that the sentiments of many investors is one of panic, according to the Wall Street Journal.

To help soften the blow caused by the current selling frenzy in the Chinese stock market, regulators have  promised to launch a series of counter actions.

Government-owned corporations have been ordered not sell their stocks but purchase back as many as they can to help stabilized market. Brokerage companies are assured of a steady supply of funds to finance their purchase of shares in the Chinese stock index.

Regulators have also raised the allowable limit that insurance companies can invest in the Chinese stock market. From the previous five percent limit, they are now allowed to use up to ten percent of their total assets to purchase blue chip stocks.

China's stock market has suffered a loss of more than $3 trillion in less than a month, but the Chinese stock indexes are still more valuable than they were a year ago.

TagsChina stock market, chinese stock index, China Stock Manipulation, Chinese Stocks Plunge, Shanghai Composite Index, ChiNext, China Securities Regulatory Commission (CSRC), chinese stock bubble, china stock news